First Solar, Inc. $FSLR Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 77.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 175,766 shares of the solar cell manufacturer’s stock after purchasing an additional 76,693 shares during the period. Allianz Asset Management GmbH owned approximately 0.16% of First Solar worth $38,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in First Solar during the 2nd quarter worth about $212,621,000. Viking Global Investors LP increased its stake in First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after purchasing an additional 854,919 shares during the period. Atreides Management LP acquired a new stake in shares of First Solar during the second quarter worth about $65,134,000. Ariel Investments LLC purchased a new position in shares of First Solar in the second quarter valued at approximately $50,869,000. Finally, Peconic Partners LLC acquired a new position in shares of First Solar in the second quarter valued at approximately $49,662,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $316.00 price target on shares of First Solar in a research report on Friday, October 31st. Seaport Research Partners increased their price objective on First Solar from $217.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Needham & Company LLC started coverage on First Solar in a research note on Wednesday, October 22nd. They set a “buy” rating and a $286.00 target price for the company. Wall Street Zen upgraded First Solar from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Roth Mkm set a $300.00 price objective on First Solar in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $275.94.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $234.36 on Friday. The stock’s 50-day simple moving average is $253.28 and its 200-day simple moving average is $231.23. The firm has a market capitalization of $25.15 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $285.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.